** Morgan Stanley analysts cut PT for Australia's HMC Capital HMC.AX to A$7.35 from A$12.21, reflecting more conservative assumptions about assets under management growth
** Lowers FY25 earnings per share estimate for diversified asset manager by 12% on co reducing FY25 pre-tax EPS position to 70 Australian cents
** Brokerage notes share price weakness lately but says upside catalyst could crystallise if co wins inflows (about A$1 bln-A$2 bln) from unlisted sources for its energy transition fund
** Five of nine analysts rate the stock "buy" or higher, three "hold" and one "sell" or lower; their median PT is A$10.70, according to data compiled by LSEG data
** Stock has declined over 39% so far this year
(Reporting by Sneha Kumar in Bengaluru)
((Sneha.Kumar@thomsonreuters.com;))